Equity (Tables)

9 Months Ended

Sep. 27, 2024

Schedule of Accumulated Other Comprehensive Loss

The following tables present the changes in the balances of each component of AOCL including reclassifications out of AOCL for the nine months ended September 27, 2024 and September 29, 2023. All amounts are net of tax and noncontrolling interest, if any.


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Net Investment Hedges		Cash Flow Hedges		Total
	(In thousands)
Balance at December 31, 2023	$	(59,805)	$	(554,622)	$	(17,215)	$	7,370	$	(624,272)
Other comprehensive income (loss) before reclassifications:

Foreign currency translation adjustment	243		(38,265)		4,995		—		(33,027)
Gain on long-term intra-entity foreign currency transactions	—		7,996		—		—		7,996
Unrealized gain on cash flow hedges	—		—		—		3,920		3,920
Other comprehensive income (loss) before reclassifications	243		(30,269)		4,995		3,920		(21,111)
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	629		—		—		(2,907)		(2,278)
Net current period Other comprehensive income (loss)	872		(30,269)		4,995		1,013		(23,389)
Balance at March 29, 2024	$	(58,933)	$	(584,891)	$	(12,220)	$	8,383	$	(647,661)
Other comprehensive income (loss) before reclassifications:

Foreign currency translation adjustment	6		(23,042)		686		—		(22,350)
Gain on long-term intra-entity foreign currency transactions	—		8,162		—		—		8,162
Unrealized gain on cash flow hedges	—		—		—		811		811
Other comprehensive income (loss) before reclassifications	6		(14,880)		686		811		(13,377)
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	327		—		—		(2,662)		(2,335)
Net current period Other comprehensive income (loss)	333		(14,880)		686		(1,851)		(15,712)
Balance at June 28, 2024	$	(58,600)	$	(599,771)	$	(11,534)	$	6,532	$	(663,373)
Other comprehensive income (loss) before reclassifications:

Foreign currency translation adjustment	(291)		63,336		(8,945)		—		54,100
Gain on long-term intra-entity foreign currency transactions	—		8,866		—		—		8,866
Unrealized loss on cash flow hedges	—		—		—		(1,230)		(1,230)
Other comprehensive income (loss) before reclassifications	(291)		72,202		(8,945)		(1,230)		61,736
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	343		—		—		(1,900)		(1,557)
Purchase related to noncontrolling interest	—		(1,706)		—		—		(1,706)
Net current period Other comprehensive (loss) income	52		70,496		(8,945)		(3,130)		58,473
Balance at September 27, 2024	$	(58,548)	$	(529,275)	$	(20,479)	$	3,402	$	(604,900)

(1) The amounts on this line within the Net Unrecognized Pension and Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost.

(2) During the three and nine months ended September 27, 2024, the amount within the Cash Flow Hedges column is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details.


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Net Investment Hedges		Cash Flow Hedges		Total
	(In thousands)
Balance at December 31, 2022	$	(63,847)	$	(613,907)	$	(8,336)	$	11,102	$	(674,988)
Other comprehensive (loss) income before reclassifications:
Net actuarial loss	(2)		—		—		—		(2)
Foreign currency translation adjustment	(108)		31,276		(2,086)		—		29,082
Gain on long-term intra-entity foreign currency transactions	—		12,501		—		—		12,501
Unrealized loss on cash flow hedges	—		—		—		(2,051)		(2,051)
Other comprehensive (loss) income before reclassifications	(110)		43,777		(2,086)		(2,051)		39,530
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	279		—		—		(1,530)		(1,251)
Net current period Other comprehensive income (loss)	169		43,777		(2,086)		(3,581)		38,279
Balance at March 31, 2023	$	(63,678)	$	(570,130)	$	(10,422)	$	7,521	$	(636,709)
Other comprehensive (loss) income before reclassifications:
Net actuarial loss	(2)		—		—		—		(2)
Foreign currency translation adjustment	(49)		(6,381)		(3,036)		—		(9,466)
Gain on long-term intra-entity foreign currency transactions	—		23,142		—		—		23,142
Unrealized gain on cash flow hedges	—		—		—		7,640		7,640
Other comprehensive (loss) income before reclassifications	(51)		16,761		(3,036)		7,640		21,314
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	889		—		—		(2,109)		(1,220)
Net current period Other comprehensive income (loss)	838		16,761		(3,036)		5,531		20,094
Balance at June 30, 2023	$	(62,840)	$	(553,369)	$	(13,458)	$	13,052	$	(616,615)
Other comprehensive income (loss) before reclassifications:
Net actuarial gain	4		—		—		—		4
Foreign currency translation adjustment	161		(79,233)		5,992		—		(73,080)
Gain on long-term intra-entity foreign currency transactions	—		9,962		—		—		9,962
Unrealized gain on cash flow hedges	—		—		—		767		767
Other comprehensive income (loss) before reclassifications	165		(69,271)		5,992		767		(62,347)
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	236		—		—		(814)		(578)
Net current period Other comprehensive income (loss)	401		(69,271)		5,992		(47)		(62,925)
Balance at September 29, 2023	$	(62,439)	$	(622,640)	$	(7,466)	$	13,005	$	(679,540)

(1) The amounts on this line within the Net Unrecognized Pension and Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost.

(2) During the three and nine months ended September 29, 2023, the amount within the Cash Flow Hedges column is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details.